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The conflict between Israel and the militant Hezbollah movement has resulted in destruction and economic losses for large amounts in Lebanon. So far, the war between the two parties has cost 8.5 billion dollars, the World Bank estimates in a new report. This corresponds to DKK 60 billion. There is no immediate prospect of an end to the conflict, so the final amount is expected to be higher.
The economic losses suffered by Lebanon in the past year amount to 5.1 billion dollars. This is mainly lost income from tourism, trade and the agricultural sector. In southern Lebanon, farmers have lost cattle and crops due to the war. Many farmers are among the million inhabitants who have been driven to flee by the fighting. In addition, buildings and infrastructure have been bombed during the conflict.
At least 3.4 billion dollars worth of damage has occurred, the World Bank estimates. Over 99,000 houses or apartments have been completely or partially destroyed, writes the World Bank.
Last October, when the Palestinian Hamas movement attacked Israel, the group’s ally in Lebanon, Hezbollah, began firing rockets across the border into northern Israel. After it had been going on for almost a year, in September Israel sent soldiers into southern Lebanon. In addition, Israeli planes have attacked the areas where Hezbollah is strong from the air.
Long before the conflict spread across the Middle East, Lebanon was still trying to recover from a severe economic crisis that began five years ago. The war will probably mean that Lebanon’s GDP will shrink by at least 5.7 percent in 2024, according to calculations from the World Bank. If the conflict had not broken out, positive growth of 0.9 percent was expected.
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Source: politiken.dk
